The nature of most business in Richmond is administration. This is because the main economic forces in the city are finance, government and law. Being home to federal administration offices (of all sizes), it is not surprising that this is where the jobs are as well. And given its history, tourism in Richmond VA is another ongoing revenue source as well. This past recession has hit the city very hard with Richmond office space vacancy rates at an alarming 16.5 percent, a rise from a healthy 10% that it used to experience before the economic crisis hit the country. The Richmond office space rental market has continued to drop giving tenants an upper hand in deciding which units to go for and lease or rent (for short or long term). However, all is not lost as new developments have come up giving rise to more job opportunities such as the Canal Walk, Richmond Convention Center and VCU (Virginia Commonwealth University) campuses. All of this current growth will help Richmond Virginia survive as an important part to the countries economic growth. We also have space in Norfolk, Alexandria, Fairfax, Roanoke and more.
Downtown Richmond and Local Commercial Landmarks:
Downtown Richmond is marked by the Belvidere Street to the west, the I-95 to the north and east and the James River to the south. The Fan, home to Monument Avenue lies in the areas between the Boulevard, Main Street, Broad Street and the VCU. It has a vast collection of Victorian architectures in its array. Downtown Richmond has many interesting buildings and tourist attractions giving it a long, historical background. Some of the main buildings (commercial and historical) you will see on your way through downtown are The American Civil War Center, The Colosseum, Virginia State Capitol, the James Center Plaza and Belle Isle Park along the James River. If you are looking to rent a specific office suite - like a serviced unit, a temporary space or conference room, or a larger business park unit - then our Free service can help you find, lease, and save $ .
History of Richmond and Real Estate News:
Richmond with a population of 200,000 residents is the state capital of Virginia and an integral part of the local economy. Richmond (along with other east coast cities like Philadelphia, Boston, and Providence) is well noted for the historical events that took place here well before the independence of the United States. The White House of the Confederacy and the Virginia State Capitol still remain here as the landmarks of the American Civil War. Many federal government agencies still have branches here like the Federal Reserve Bank of Richmond, United States Courts of Appeal and the Federal Reserve Bank. Richmond has become the home base for 14 of the top 100 hi-tech companies - another reason that prices on executive suites and virtual or shared office space is still in demand. Some of the more famous companies are MacDonald, Dettwiler & Associates, Top Producer Systems and Sierra Wireless Inc.
Rental Rate For Richmond Office Spaces:
The city of Richmond is expanding significantly and this is a good sign for demands for business and services to grow as well. It was estimated that at the level it is growing, by 2021 the population would likely increase by a whopping 31,500 people which will greatly increase the price and demand for office spaces in Richmond. In late 2009 the average rate to rent Offices in Richmond is about per sq. ft. for Class A space. Some other common companies that need commercial office space are attorneys, cpas, agents, insurance, medical facilities, etc. Crime rates in the city are at a manageable rate of 85 crimes per one thousand residents. The city has been well planned to include a balance mix of housing, employment, shopping and other services that cater to the many single family units that live in the city area. Richmond, Virginia with its rich historical background has set itself up as the federal and state legislation administrative center. The high quality of living here and the environmentally conscious decisions that the city makes have become the driving force for many who relocate here for their careers, business opportunities and for wholesome living. If you are trying to get help to pick a floor plan, then we can help.